The pace of decline of the world's major economies is slowing, according to the Organisation for Economic Co-operation and Development (OECD). The measure of composite leading indicators (CLI), which track such factors as production activity, showed that the CLI for the overall OECD area rose by half a point in April but was 8.3 points lower than in April 2008. In addition, the OECD warned that countries outside the 30-member OECD group "still face deteriorating conditions, with the exception of China and India, where tentative signs of a trough have also emerged."
The CLI index for the United States increased by 0.2 points. The UK index increased by 0.7 points. The CLI for the eurozone rose by 0.8 points in the month but was down 6.3 points over 12 months, and the figure for Japan was up 0.1 points in the month and down 11.9 points over 12 months. The index for Germany rose by 0.1 points in April and fell 13.4 points over 12 months. The index for China rose by 0.9 points in April but was 8.3 points down over 12 months.
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